Massive Air Bag Recall Could Drive Takata Into The Red

by Wochit
0:44 mins

1,700 views

Massive Air Bag Recall Could Drive Takata Into The Red

by Wochit
0:44 mins

1,700 views

Japanese auto parts maker Takata Corp could face a $500 million charge and a net loss this year - its second in three years - as a widening recall of air bag inflators begins to kindle worries despite its deep pockets. Automakers have recalled 10.5 million vehicles over five years to fix Takata air bags deemed at risk of exploding and shooting shrapnel at drivers and passengers, in what has become one of the five biggest recalls in automotive history. Creditors are not overly worried about the financial health of Takata, which has about $1 billion of cash on its books, banking sources said.